July 8 Eurogroup announcement Modalities & implications for Greece’s adjustment programme | Eurobank
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July 8 Eurogroup announcement Modalities & implications for Greece’s adjustment programme

Following a staff-level agreement between the Greek government and the troika on the 4th review of the present adjustment programme, the Eurogroup of July 8, 2013 mandated the Eurogroup Working Group (EWG) to approve the next EFSF installment, which amounts to €3.0bn. According to an accompanying official statement, the said installment will be disbursed in two sub-tranches, subject to the fulfillment by the Greek side of a number of agreed programme milestones. As per Table A below, the first EFSF sub-tranche (€2.5bn) will reportedly be disbursed by the end of July, with the second one (€0.5bn) expected by end-October 2013...